Introducing: Funding Through Fawry🟡

Local Pickup🌇

Introducing: Funding Through Fawry🟡

We are on a mission to make investing more accessible for everyone. Accessible investing means easier funding methods. Today, we are super proud of our regulator the Financial Regulatory Authority (FRA), who has just granted Thndr users the approval to use Fawry to fund their wallets. 

We have been working day and night over the last year on building a case for brokerage houses to use alternative funding methods. The FRA have been extremely supportive of our cause as well as sponsoring these discussions with the Central Bank of Egypt (CBE). Adding Fawry as a funding alternative for brokerage houses is a huge testament to both the FRA and CBE supporting rallying towards financial inclusion.

We promise to continue to work extremely hard towards becoming an agent of change when it comes to regulations and providing financial services that are designed and are accessible to everyone.

FRA Allows Brokerages to Accept Deposits Through Electronic Points of Sale🏛

We wouldn’t have been able to offer funding through Fawry without our regulator, the FRA, who last Wednesday allowed brokerage firms to accept deposits made at electronic points of sale (POS) & through debit cards.

More Details🧐 The FRA clarified that cash deposits must be carried out through banks that offer electronic POS such as FawryPlus, with the depositor needing to show government identification at the POS. 

Why is this Important🤔 This initiative comes within the framework of achieving financial inclusion, & supporting digital transformation through the use of financial technology.

Heliopolis Housing to Use Advance Payment in Developing New Heliopolis City🏘

Heliopolis Housing (HELI) plans to utilize the majority of the payment in advance included in Mountain View’s offer to develop New Heliopolis City, according to Al Mal.

More Details🧐 Mountain View had won the bid to co-develop the Heliopark project with HELI just last week. Late in December 2021, HELI was closing in on two deals to set up the infrastructure of New Heliopolis City.

Why is this Important🤔 Heliopark has a development period of 15 years, & the collection period for project returns is 23-25 years. The project will provide financial resources on a constant basis to HELI, which qualifies the company to enter into future projects.

What else is Clapping👏

  • Egypt Targets a 5.7% Economic Growth Rate in FY 22/23

Global Pickup🌎

Warren Buffet Made Around $124 Billion Off of Apple’s Stock Rise💸

Warren Buffet, chairman of multinational conglomerate Berkshire Hathaway, has made over $120 billion on tech-giant Apple’s journey to the first-ever $3 trillion market value. 

More Details🧐 Berkshire Hathaway started investing in Apple back in 2016. By mid-2018, Berkshire held a 5% stake in Apple, amounting to $36 billion. That 5% stake hit $160 billion as Apple’s market cap hit the $3 trillion mark.

Berkshire Hathaway is Apple’s second-largest shareholder after The Vanguard Group. Apple also constitutes the highest portion of Berkshire’s equity portfolio: over 40%.

Why is this Important🤔 Berkshire has been reducing its Apple stake slightly since 2018. However, because of Apple’s share repurchase programs, which shrank the number of its outstanding shares, Berkshire’s overall stake in the tech company has actually gotten bigger.

Fun Fact🎉 Berkshire Hathaway’s stock, BRK.A, is the most expensive publicly traded share of all time, closing Friday’s trading session at $480,000/share.

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